Millionaire TradersQ: That was basically in multiple entries. You started out with
five and then you added five more, right?
A: Yes, but I won’t be afraid. If it’s going one way or the other, I
will not be a afraid to hit bids. I’ll go market, I’ll just bank it.
Q: You mean get into the trade with market orders instead of
limit orders if you feel that it’s the right trade?
A: Absolutely.
Q: Is that because you’d rather be in a trade than miss it?
A: Yes.
Q: Given your capital base, how much leverage do you allow
yourself?
A: I don’t go crazy. I have a$350,000 account. I take a draw out
of there at about$15,000 a month.
Q: Basically it’s no more than four-to-1 leverage, so it is not
exorbitant.
A: Yes, I use one contract per$10,000.
Q: That’s your rule of thumb?
A: Yes, in my head. Like if I had$20,000 account, I would trade
two at most. I mean, I started this thing two years ago with 30
grand.